The retail sector is big business for many a world economy. When running a retail business, it is imperative for the retailer to formulate a few guiding company principles in order to ensure a successful and healthy business model.
Consumer service and retention:
The success of a retail business is directly linked to customer satisfaction. Ethical practices have to adopted to ensure consumer protection and providing services like product recommendations, a proper exchange policy, resolving complaints and providing sound informed advice. All these will ensure customer retention. Our customers are the most important people to our business. And we ensure their protection and satisfaction by focussing on their requirements in everything that we do.
Fair and truthful advertising and marketing campaigns:
We do not make any false or deceptive claims when advertising our products and services. We ensure that our advertising emphasizes only truthful features or benefits of our company products. We do not deceive our consumers with misleading discount campaigns.
Understanding the principles of price, product and place:
The company policy is to have consistent and competitive prices across our retail outlets. We price our products at competitive levels to ensure that our customers get good value for money and meets all their requirements. Our product range is of superior quality satisfying customers’ needs and desires. Our stores and e-commerce division constantly strive to catalogue and provide a regular and timely supply of our products to meet consumer expectations.
Our company principle and retail format, therefore, is to be competitive and adhere to fair business practices well within the legal framework of consumer protection laws and regulations.